Daily Mail editor Paul Dacre’s total remuneration fell by 39 per cent to £1.475m in the year to September 2015, according to the annual report of Daily Mail and General Trust.
Dacre's £688,000 pension, which he already collects, means he grossed £2.163m. This is down from more than £3m in the year to September 2014.
While his salary has increased from £1.378m to £1.419m, Dacre (pictured, Reuters) did not this year take a salary supplement, which last year totalled £1m.
Instead, he is now participating in a long-term incentive plan. The report said: “His awards will vest after three years with the performance conditions focused on the delivery of strategic objectives for the Mail titles such as growth and investment in strong brands of digital consumer media, particularly MailOnline.”
In addition to his salary, Dacre earned £56,000 taxable benefits, up from £34,000 in 2014. This includes a company car with a taxable value of £29,196, a car allowance of £10,000 and a fuel benefit of £14,300. All DMGT executive directors receive medical benefits worth £2,500 to £3,000.
Elsewhere, the report showed revenue across the Daily Mail, Mail on Sunday and Mail Online fell by 5 per cent to £572m. The newspapers' circulation revenue was down 4 per cent to £312m, while their advertising revenue fell 11 per cent to £169m. Mail advertising revenue was down 4 per cent to £242m overall because Mail Online's advertising earnings grew by 16 per cent to £73m.